The Fisheries Quota Program aims to counteract the decline of young, rural, and Indigenous residents entering Alaska’s quota share fisheries due to high costs. Launched in 2019, the Alaska Sustainable Fishery Trust’s (ASFT) Local Fish Fund (LFF) offers loans to new entrants and community-based vessel owners, featuring competitive interest rates, reduced down payments, and flexible repayment based on fish landings. This initiative seeks to restore local access to fisheries, which is crucial for economic stability, workforce opportunities, and food security in these communities.
Through philanthropic support, ASFT acquired $800,000 of “A Share” quota in 2019 from a retiring fisherman, which is now leased to generate revenue and keep fishing activities local. By deploying these shares, ASFT provides entry-level opportunities for rural and Indigenous residents of Southeast Alaska, thereby recapturing assets that had left the region and increasing economic activity and social well-being. With additional support, ASFT paid off this loan and secured more “A Shares” from the same seller. Now fishing harvests are processed locally, increasing economic prosperity and improving social health in the region.
The fisheries quota program is managed by SEC within the Southeast Alaska Sustainable Strategy (SASS) Program.
